DIG cryptocurrency holders take note; see important changes to online CV of Dignity Gold chairman
Posted March 7, 2020 by Cryptocurrency Business Group Many holders of Dignity ($DIG) cryptocurrency tokens were encouraged by the realization that Kent Swig online curriculum vitae changed this week.
Swig is the chairman of Dignity Holdings, LLC, as well as the chairman of its subsidiary companies. Changes to the online CV which occurred this week included the additions of these previously unlisted subsidiary companies:
Significantly, changes were made to the reference to the subsidiary company Dignity Gold, LLC. That portion of Swig’s CV now reads:
Previously, the cryptocurrency was listed as Dignity (not Dignity Gold) and the symbol was listed as DIG (not DIGG). These changes lend credence to the widespread speculation that Dignity Gold will conduct a “swap” of its existing tokens.
Exactly what is a token swap? In its simplest terms, it is the digital upgrade of an older version of an existing token with a newer version, executed by the organization that holds the contract for the token. For instance, Dignity ($DIG) is currently in its third version.
In the specific instance of $DIG and $DIGG, one of the possible scenarios is that a new token contract ($DIGG) would be deployed on the Ethereum blockchain, and people holding $DIG will be able to trade their tokens for the new $DIGG in a ratio decided upon by the company. To meet United States regulatory guidelines, any tokens distributed by Delaware-registered Dignity Gold would have to be done via an exchange that enforces Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
In most basic terms, this means people creating accounts on a KYC/AML exchange must provide the following information:
– Date of birth
– Identification number (usually from some government-issued ID, such as a driver’s license or passport)
Livecoin, the exchange on which DIG has traded for most of its existence, does not require KYC/AML documentation for its account holders. It has not been announced officially, but the presumption is that in order to meet U.S. regulatory guidelines, the forthcoming Dignity X exchange has already committed to enforcing the KYC/AML guidelines. It would not be surprising if $DIG holders are offered the opportunity to trade their $DIG for $DIGG after creating an account on the forthcoming Dignity X exchange.
While there was no press release relative to the changes made in Swig’s online CV, it can certainly be presumed that the addition of details to the online CV of the chairman of all of the companies was authorized by Swig himself.
Scarcity of public communication from official sources has been a point of contention and concern for DIG holders for much of the token’s existence.
In August 2019, Dignity Gold LLC said in a press release that it would have a full gold bar audit conducted in the near future by Bureau Veritas, a recognized industry leader in precious metal auditing. The release of a gold bar audit conducted in the months of August and September 2019 was expected to accomplish two things:
– Firstly, give Dignity token investors the proof many have sought that there is verifiable gold backing the token, and
– Secondly, an audit that confirms the existence and control of the gold in current time, not months ago.
According to the August 15, 2019 press release:
SION Trading FZE is supplying the safe keeping receipt (SKR) for the gold that is backing Dignity Gold and has entered into an official agreement with Bureau Veritas to verify and count the gold. Under the supervision of Joseph Chapman, North American Audits Manager, Metals and Minerals Division at Bureau Veritas, company executives in Dubai will be counting the initial $3 billion out of Dignity Gold’s 395,000 kilograms of gold provided under the SKR agreement. The first verification will be completed in September 2019.
Dignity Gold LLC and previous entities that have been in control of the gold-backed Dignity token have claimed that there are 395,000 kilograms of gold under control to back Dignity (DIG). This equals more than 435 U.S. tons. If there are indeed 395,000 kilograms of gold to back the Dignity token, it was worth more than $21 billion USD on March 6, 2020.
The “initial $3 billion” of gold supply coincides numerically with the reported actual number of DIG tokens which were in circulation in August of 2019, 3 billion. However, the news release did not state any definitive connection between the two figures.
Despite the statement that the first gold audit verification would be completed in September, audit results were not released publicly at that time. An October 2 news release from the company said that the audit results would be completed at the end of November 2019. SION Trading FZE of Dubai — with which Dignity Gold has contracted to provide gold to back its Dignity token under a Safe Keeping Receipt (SKR) agreement — was finalizing the coordination of internal security and its logistic team for the counting of the gold, which is located in Dubai, the October 2 announcement said. No other reasons were cited in the news release for the delay.
The end of November and then December came and went with neither the release of an audit nor another press release.
On January 19, 2020, Dignity Gold CEO Stephen Braverman tweeted: “
We have discovered that there maybe some improper trading activity with the DIG coin and we and our advisors and counsel are actively investigating this. We shall immediately report our findings.”
Then on February 13, Dignity Gold LLC issued this statement via press release:
Dignity Gold, LLC has again announced that it has uncovered irregularities in the trading of the Dignity (DIG) token resulting from the unauthorized and improper minting of new tokens. As a result, some Dignity coins purchased after 1/18/2020 may not be valid. A formal complaint was immediately issued to Livecoin.net, however they have not responded.
Dignity Gold, LLC, is taking swift and appropriate action to address the issue and will release further information during the week of 3/16/2020 with a strong and detailed path forward.
No further information on the nature of the irregularities has been released through official channels. It is possible, but certainly not confirmed, that the information released the week of March 16 will relate more specifically to what “irregularities” occurred, and what has been done to address them, if anything. It is also possible that the process by which $DIG holders can trade into $DIGG may be outlined that week.
$DIG holders were recently advised by Impact Partners, Dignity Gold’s new public relations firm, to subscribe to Dignity Gold’s informational emails at dignitygold.com. (The email subscription form appears as you scroll down the homepage screen.) To the best of our knowledge, no emails have yet been sent to subscribers.
Other signs of progress for Dignity Gold
The update of Swig’s online CV is not the only recent sign that a launch for $DIG and Dignity Gold may be on the near horizon. On February 27, 2020, Dignity Gold announced three new corporate advisor engagements via a press release, including: Tritaurian Capital, Carlton Fields and Impact Partners.
Dignity Gold, LLC Announces New Corporate Advisor Engagements
NEW YORK, Feb. 27, 2020 /PRNewswire/ — Today, Dignity Gold, LLC (“Dignity Gold”) is pleased to announce its new advisor engagements. This team has been carefully selected and assembled since July of 2019. At the top in their industries, these parties have been working side-by-side with management to lead the company into its next chapter.
As previously announced, Dignity Gold, LLC uncovered discrepancies in the trading of the Dignity (DIG) token. Although Dignity Gold is unaware of how these discrepancies occurred, they appear to have resulted in the unauthorized and improper minting of new DIG tokens. Dignity Gold, LLC has not received any response from Livecoin.net with respect to its inquiries into these discrepancies, and Dignity tokens purchased on Livecoin.net after January 18, 2020 may not be valid.
Although Dignity Gold did not authorize the issuance of the DIG tokens, Dignity Gold’s management team, along with its advisors, is working on a remedy for DIG token holders. To be announced in the coming weeks, Dignity Gold plans to put a process in place for legitimate DIG token holders to achieve a solution from the current challenges they face.
The advisors include the following:
Tritaurian Capital, a FINRA registered U.S. investment bank serves as the compliance consultant to Dignity Gold, LLC and is the foremost expert in compliant and regulated security token offerings. It is the first broker/dealer to be approved for a license to sell digital private placement securities using distributed ledger technology, otherwise known as blockchain technology. Tritaurian believes that blockchain-based securities offer the opportunity to improve record keeping and transparency through the open nature of blockchains while increasing security and compliance through the programmable nature of blockchain tokens. By capitalizing on the background of its principals in investment banking, entrepreneurial growth companies and transformational technologies, Tritaurian examines every angle and opportunity for its clients in order to provide the highest quality financial advice and service possible.
Carlton Fields serves as legal counsel to Dignity Gold, LLC and is one of the leading firms in the United States within the practice of Securities and Investors. Specifically, the securities industry turns to Carlton Fields for its regulatory, enforcement, litigation, corporate finance and corporate needs. The National practice serves publicly-held corporations as well as the broker-dealer, investment advisor, and investment company components of the Securities Industry.
Impact Partners serves as the public and investor relations firm to Dignity Gold, LLC. The partners of Impact Partners have been senior advisors to some of the world’s most prestigious organizations, CEOs, as well as counseled multiple heads of state. The firm provides companies and their leadership with the insights and access necessary to activate competitive advantages that drive business results. With powerful connections across the global business and media landscape, their expertise puts their clients into the right rooms, with the right people at the right time. Their current client roster consists of leading venture capital firms, family offices / high net worth investors, and the companies they each invest their monies.
About Dignity Gold, LLC
Headquartered in Delaware with offices in New York City, Dignity Gold operates as a wholly-owned subsidiary of Dignity Holdings, LLC and a leader in cryptocurrency. It was founded in July of 2019 by Stephen Braverman and Kent Swig.
SOURCE Dignity Gold, LLC
Industry Veterans Launch Dignity Holdings, LLC
Newly-Formed Cryptocurrency and Mining Firm Acquires Cryptobontix
NEW YORK, July 25, 2019 /PRNewswire/ — Dignity Holdings, LLC, a leader in cryptocurrency and digital coin mining, today announced its official launch, and that its wholly owned subsidiaries Dignity Mining Group, LLC and Dignity Gold, LLC have acquired Cryptobontix, a family of tokens backed by SION Trading FZE’s gold in Dubai. Through the acquisition, Dignity Gold now owns four of Crytobontix’s digital cryptocurrencies: Dignity (DIG), Namaste (NAM), Honor (HNR) and Orectic (ORE). It will also continue the relationship with SION Trading FZE through the safe keeping receipt (SKR) for 395,000 kilograms of gold in addition to the tokens. The acquisition also includes Dignity Mining Group’s acquisition of an extensive mining operation based in Upstate New York. The newly-formed companies are being led by investment, technology and real estate industry veterans Stephen Braverman, who will serve as President and CEO, and Kent M. Swig, who will serve as Chairman.
“I am thrilled to announce the launch of Dignity Holdings and their subsidiaries,” stated Braverman. “Our groundbreaking technology and top-talent are unparalleled in the industry and I am eager to help grow our firm into one of the largest, most stable global cryptocurrencies.”
Dignity Gold is initially focusing its business on its cryptocurrency coin known as Dignity, which is traded on Livecoin.net under the symbol DIG, and backed by SION Trading FZE’s gold. Dignity Mining Group also has an extensive mining operation, which is being overseen by mining expert Hayden Gill, Founder and CEO of Hash One, one of the premier cryptocurrency mining advisory firms. Additionally, Dignity Mining Group uses cutting-edge technology for its mining operations, including 708 AMD mining rigs each running 12 Powercolor/TUL RX Vega 56 Nano graphics processing units.
Braverman brings with him more than 30 years of experience in securities trading and investment management. Prior to his current role, he was the Chief Operating Officer at Arbitrade Exchange, a centralized cryptocurrency exchange. He previously traded securities at Clearview Trading Advisors, Inc. and managed a discretionary account for a California-based investment fund. Braverman also spent 10 years at Knight Capital Group, Inc., where he served as Managing Director of Listed Equity Trading. He is the founder and former Board of Directors Chairman of Liquid Holdings, a trading technology company.
Swig is the President of Swig Equities, LLC, an investment and development firm focusing on the acquisition and development of real estate in New York City and California. He is also an Owner and Co-Chairman of Terra Holdings, LLC, one of the largest private real estate service companies in the United States, which owns real estate service firms Brown Harris Stevens and Halstead Real Estate. Additionally, Swig holds several other roles across renowned companies including serving as Owner and President of Helmsley Spear, LLC, founded in 1866, which is America’s oldest continually-operating real estate company; Owner of Falcon Pacific Construction, LLC, a construction company with divisions in ground-up and interior construction; and a Principal in The Swig Company, a family-owned real estate and hotel company based in San Francisco that owns more than 10 million square feet of commercial office space throughout the United States.
Dignity Mining Group and Dignity Gold are being legally represented by Mark Neubauer, Los Angeles Office Managing Shareholder, of the law firm Carlton Fields.
About Dignity Mining Group, LLC
Headquartered in Delaware with offices in New York City, Dignity Mining Group, LLC is a wholly-owned subsidiary of Dignity Holdings, LLC and a leader in cryptocurrency and digital coin mining. It was founded in 2019 by Stephen Braverman and Kent Swig. The company uses cutting-edge technology for its mining operations, including 708 AMD mining rigs each running 12 Powercolor/TUL RX Vega 56 Nano graphics processing units.
About Dignity Gold, LLC
Headquartered in Delaware with offices in New York City, Dignity Gold is a wholly-owned subsidiary of Dignity Holdings, LLC and a leader in cryptocurrency. It was founded in 2019 by Stephen Braverman and Kent Swig. Its cryptocurrency coin, Dignity (DIG), trades on Livecoin.net, and incorporates with the latest technology and is backed by SION Trading FZE’s gold in Dubai.
RUBENSTEIN PUBLIC RELATIONS
CONTACT: KATI BERGOU, 212-805-3014
SOURCE Dignity Holdings, LLC